Autumn Budget 2026: What Property Buyers, Sellers and Landlords Need to Know

28 October 2026 | Oakmans Estate Agents

The Autumn Budget 2026 brings changes for property buyers and landlords across Birmingham, Solihull and Worcestershire, alongside some familiar rules that remain in place.

From higher tax on rental income to new support for first time buyers, the announcements could affect your next move. However, several measures will only take effect in 2027 or later, so it is important to understand the timing before changing your plans.

At Oakmans, we have looked at the main property announcements, what has stayed the same and what they could mean for you locally.

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What changes for landlords?

The government plans to increase personal income tax rates on property income from 6 April 2027. In England, the basic property rate will be 24%, the higher rate 44% and the additional rate 49%. Landlords holding properties through a limited company should assess their position separately. HMRC’s Budget tax overview

This adds another two percentage points to the increase announced in the 2025 Budget. If you have already worked out your expected tax bill for next year, those calculations may need updating. The government’s Budget document

For landlords, the practical starting point is a review of each property. Consider the rent you receive, running costs, mortgage payments, maintenance and periods without a tenant, then ask your accountant to assess the tax position.

At Oakmans, we would encourage landlords to look at the whole picture before deciding whether to keep, improve or sell a property. A tax change matters, but so do the property’s condition, rental prospects and your longer term plans.

For student properties in Selly Oak, that review should also include the letting timetable, presentation and how the accommodation compares with other available homes. For professional and family lets, realistic pricing and looking after a reliable tenancy remain important.

Our lettings team can help you review the property and its rental value, giving you useful figures to discuss with your accountant.

What support is available for first time buyers?

The new Your First Home scheme is intended to help eligible first time buyers purchase new build homes in England.

It will offer a government equity loan worth 20% of the purchase price, alongside a minimum buyer deposit of 2.5% and a mortgage from a participating lender. Outside London, the household income limit will be £110,000. Local property price caps and other eligibility conditions will apply.

Applications are expected to open in February 2027, with the first purchases from April 2027. Full eligibility details, participating developments and local price caps are still to be published. Your First Home guidance

The equity loan will be interest free for five years, with interest payable afterwards. The amount repaid is linked to the home’s value, so it could increase if the property rises in value. Buyers will also need to pass mortgage affordability checks. How the equity loan works

For buyers locally, this could provide another option to explore. It is worth comparing the scheme with existing homes and mortgage options, taking account of the full cost of ownership and the type of home you actually want.

What is changing for Lifetime ISAs?

From 29 October 2026, the Lifetime ISA withdrawal charge for qualifying first home purchases above the £450,000 property price cap will fall from 25% to 20%. The charge for other unauthorised withdrawals will remain at 25%.

A new First Time Buyer ISA is also planned for April 2029. It will replace the Lifetime ISA for new savers, offering a 25% government bonus, capped at £20,000, towards qualifying homes worth up to £450,000. Existing Lifetime ISA holders will be able to continue contributing to and using their accounts. HMRC’s ISA announcements

If you are using savings towards a deposit, check the rules with your provider before withdrawing money or committing to a purchase.

What hasn’t changed after the Budget?

The standard stamp duty bands for residential purchases remain unchanged.

For purchases attracting standard rates, the first £125,000 is tax free. Eligible first time buyers still pay no stamp duty on the first £300,000 of a property costing up to £500,000, with 5% payable on the portion above £300,000. First buyer relief is unavailable when the purchase price exceeds £500,000.

The additional property surcharge also remains at five percentage points above the standard rates. Current stamp duty rules

To put that into context, on a straightforward £300,000 freehold purchase by a UK resident, an eligible first time buyer would pay no stamp duty. A buyer paying standard rates would pay £5,000. Your solicitor should confirm the calculation for your circumstances.

The ordinary Capital Gains Tax rates for individuals remain at 18% and 24%, with the annual exempt amount staying at £3,000. Anyone considering selling a rental property should still check their likely liability, including available reliefs and allowable costs. HMRC’s rates and allowances

The government is also retaining the annual cash ISA limit at £20,000, reversing the previously planned reduction. HMRC’s cash ISA announcement

What about higher value homes?

The previously announced High Value Council Tax Surcharge remains scheduled to begin in April 2028. It applies to residential properties in England valued at £2 million or more in 2026 and will sit alongside existing council tax.

This Budget provides further detail on deferrals, discounts and exemptions. It also confirms a 100% premium on the surcharge for properties left empty and unoccupied for at least 12 months. Government guidance on the surcharge

Owners who may fall within its scope should review the valuation rules and support arrangements as the detailed guidance develops.

Will the Budget change mortgage rates?

The Budget does not automatically change your mortgage payment. Bank Rate is decided separately by the Bank of England, while lenders also consider funding costs and market conditions when pricing mortgage products. Bank of England’s latest policy decision

An existing fixed mortgage rate normally stays the same until the fixed period ends. Variable and tracker mortgages operate according to their individual terms. How mortgage rates work

If you are buying, moving or approaching the end of a mortgage deal, getting advice early can help you understand your budget and available options.

Our mortgage advisers can help you explore suitable arrangements and understand the costs before you commit.

What could this mean for the local property market?

Our view is that the Budget’s effects will vary between households and property types.

Support for eligible first time buyers could help some people purchase sooner. Higher tax on property income could lead some landlords to review their investments. Neither announcement gives a reliable prediction of what will happen to house prices or rents in a particular neighbourhood.

The Budget also commits another £1.5 billion to social and affordable housing, intended to support around 10,000 additional homes in England. It highlights Birmingham East regeneration plans and the Midlands Rail Hub within the region’s wider growth picture. The full Budget document

These developments could influence housing supply and the appeal of particular locations over time. Their impact will depend on what is delivered, where and when.

For someone selling in Harborne, buying in Northfield or moving to Bromsgrove, the immediate questions remain practical. What are comparable homes selling for? What competition is currently available? What can the buyer comfortably afford?

Those are the questions we can help you work through.

What should sellers and landlords do next?

For sellers, start with an up to date valuation and a clear understanding of your next purchase. The asking price, presentation and marketing should reflect your property and the buyers you want to reach.

For landlords, review your expected income and costs before making changes. Consider maintenance, tenancy stability and future expenditure alongside the tax announcements. A higher tax bill alone does not tell you what rent is achievable or whether selling is the right choice.

For buyers, establish a comfortable monthly budget and compare your options. A new scheme may help, but the home still needs to suit your circumstances.

How Oakmans can help

Our teams in Selly Oak, Harborne, Northfield, Shirley, Bromsgrove and Redditch are here to help you understand your options.

We can support you with a property valuation, a search for your next home, a review of your rental property or an introduction to mortgage advice. We will talk through your plans and explain the local factors that matter to your decision.

If the Autumn Budget has left you wondering what to do next, book a free property valuation or speak to your local Oakmans team.

Tell us what you are hoping to achieve, and we will help you plan your next step.

Information reflects announcements and guidance available on 28 October 2026 and focuses on property in England. Some measures require legislation or further guidance. Individual tax, legal and mortgage decisions should be checked with an appropriately qualified adviser.